Operating regulations of the Board of Controllers and Controllers of state-owned enterprises in Vietnam

Under Article 10 of Decree 47/2021/ND-CP, operating regulations of the Board of Controllers and Controllers of state-owned enterprises in Vietnam are specified as follows:

1. The state ownership representative bodies of wholly state-owned enterprises prescribed in Point a Clause 1 Article 88 of the Law on Enterprises shall promulgate operating regulations of the Board of Controllers and Controllers.

2. The Board of Members of multiple-member limited liability companies that are state-owned enterprises and subsidiary companies of state-owned enterprises prescribed in Clause 1 Article 88 of the Law on Enterprises shall promulgate operating regulations of the Board of Controllers and Controllers at the enterprises.

3. The Board of Members, Presidents of parent companies that are state-owned enterprises shall promulgate operating regulations of the Board of Controllers and Controllers of the single-member limited liability companies that are wholly owned by the parent companies.

4. Operating regulations of the Board of Controllers and Controllers in Vietnam shall include:

a) The scope, contents of rights, obligations and duties of the Board of Controllers and the Controllers;

b) The mechanism form cooperation; rights, obligations and responsibilities of the enterprise and its executives to operation of the Board of Controllers and the Controllers;

c) The mechanism for cooperation, reporting, seeking opinions between the state ownership representative body, the Board of Controllers and the Controllers regarding their rights and duties;

d) The mechanism for cooperation between the Board of Controllers, the Controllers, the enterprise’s executives, the representative of the direct owner, the representative of state capital in the enterprise, the representative of the enterprise’s capital in other enterprises in performance of rights and obligations of the Board of Controllers and the Controllers to the enterprise, the subsidiary companies, the subsidiary companies with stakes or associate companies of the enterprise.

dd) Scope, contents of rights, obligations and duties of the Board of Controllers and the Controllers;

e) Salaries, remunerations, bonuses, working conditions, costs of business trip and other operating costs of the Board of Controllers and the Controllers;

g) Other contents decided by the state ownership representative body.

Best regards!